July 16 (Lagos) - Regency Alliance Insurance Plc reported financial results for full year 2011. Gross premium income increased to N 2.02 billion in 2011 from N 1.8 billion in 2010, an increase of 12.8% while the net premium income fell 3.3% to N 1.40 billion. Net claims paid decreased by 12%. Underwriting profit was N 822 million in 2011 down from N 857 million in 2010.
Management expenses grew 11% to N 498 million. Profit after tax increased slightly to N 247 million. The board has proposed a dividend of 2 kobo per share subject to shareholders approval.
Shares of REGALINS currently trade at 50 kobo per share at the Nigerian Stock Exchange in Lagos.
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